Question

compare the economic activities of the private sector with that of the public sector.​

Answer 1

Answer:

Sectors in terms of ownership: Public and Private sectors Industries can better be classified on the basis of their ownership under the following categories.: (i) Public Sector Industries: Industries owned by the state or its agencies are called public sector industries. As for example, the Indian Railways, the Iron and Steel Industry at Bhilai and Durgapur etc., Oil India Ltd. are some such industries. (ii) Private Sector Industries: Industries owned by individuals or firms formed by individuals are called private sector industries. For example, Tata Iron and Steel Company Limited or Reliance Industries Limited are privately limited.

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